Manchester-based payments FinTech Total Processing has been bought for 拢28m ($35m).
The deal will enable Dublin firm NomuPay, a modern end-to-end payment platform, to expand throughout South East Asia, Europe, Turkey as well as enter the Middle East.
The acquisition comes just months after NomuPay raised 拢42.5m ($53.6m) in Series A funding.
Established in 2015, Total Processing is transforming the payment industry through its proprietary software.
The company employs around 90 staff at its offices Manchester, Dublin and UAE, servicing around 1,100 customers.
It was previously named as one of the UK鈥檚 fastest growing private financial technology companies by The Sunday Times.
As part of the deal, which consists of a mixture of stock and cash, Total Processing鈥檚 name and management team will remain in place.
NomuPay CEO, Peter Burridge, said: 鈥淚n an industry that鈥檚 plagued by over-automation, chatbots and so-called 鈥榮imple鈥� solutions, Total Processing stands out as a company that truly cares about the merchant鈥檚 experience.
鈥淲hat impressed me the most was the team鈥檚 mission and drive to become the 鈥榤ost customer focused payments business in the world鈥�.
鈥淚t鈥檚 apparent at every stage of the value chain. From streamlining the onboarding process, to improving authorisation rates and simplifying chargeback management, Total Processing鈥檚 consultative approach is maniacally focused on improving each and every one of their merchant鈥檚 businesses.
鈥淎t NomuPay, our goal is to provide our customers with an 鈥榓ll-access pass鈥� to payments, future-proofing their ability to successfully scale in high-growth regions.
鈥淭he acquisition of Total Processing will enable us to unlock that access through dedicated solutioning and customer-driven servicing.鈥�
Engineered to simplify fragmented payment infrastructure throughout South East Asia, Europe and Turkey, NomuPay鈥檚 Unified Payments Platform provides scalable payment solutions and robust data management capabilities that are gateway agnostic.
Robert Pailin, Total Processing鈥檚 CEO, said: 鈥淗aving NomuPay鈥檚 acquiring capabilities underpinning our merchant servicing offering is a big leap forward, we鈥檙e aligned in our customer-first approach, and this partnership will supercharge Total Processing鈥檚 growth.
鈥淲ith more resources we鈥檒l be able to innovate tech faster, expand into new markets, and bring even greater value to our merchants. Exciting times ahead!鈥�
Speaking to 老九品茶Cloud, Pailin, who has been CEO at Total Processing for three years, said: 鈥淲e are on a journey of pursuing our regulatory licences in the UK, EU and UAE.
鈥淣omuPay is a PE-backed group so it gives us access to capital to continue our regulatory journey.
鈥淚t also gives us access to NomuPay鈥檚 development resources and develop the product offering.鈥�
Founded in 2021, NomuPay is Institutional funded and has a presence in Dublin, Hong Kong, Kuala Lumpur, Manila, Istanbul and Bangkok